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Petrovietnam Gas has awarded its first long-term liquefied natural gas (LNG) supply contract to Shell, effective from 2027 to 2031. The five-year agreement entails Shell delivering approximately 400,000 metric tons of LNG annually to Vietnam on a delivered ex-ship (DES) basis at the Thi Vai terminal.

Vietnam commenced LNG imports in 2023, with the first delivery to the Thi Vai terminal, which serves two gas-fired power plants that started commercial operations in mid-December. Prior to this contract, Vietnam had imported LNG solely from the spot market, with 0.5 million tons shipped in 2025, according to Kpler data. The tender for this long-term supply was first issued in August.